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DOCUSIGN, INC.（DOCU）与Sinclair, Inc.（SBGI）财务数据对比。点击上方公司名可切换其他公司
DOCUSIGN, INC.的季度营收约是Sinclair, Inc.的1.0倍（$818.4M vs $807.0M），DOCUSIGN, INC.净利率更高（10.2% vs 2.5%，领先7.8%），DOCUSIGN, INC.同比增速更快（8.4% vs 4.0%）
DocuSign是总部位于美国加利福尼亚州旧金山的软件企业，为各类机构提供多设备支持的电子协议管理及电子签名相关产品。截至2025年，公司在180个国家拥有约170万客户，其处理的签名符合美国ESIGN法案、欧盟eIDAS法规要求，满足欧盟高级及合格签名标准。
辛克莱公司（以辛克莱广播集团开展业务）是一家上市的美国电信综合企业，由创始人朱利安·辛克莱·史密斯的后代控股。公司总部位于马里兰州巴尔的摩郊县科基斯维尔，按电视台数量计算是美国第二大电视台运营商，仅次于奈克斯达媒体集团，在全国100多个市场拥有或运营193家电视台，覆盖美国40%的区域。
DOCU vs SBGI — 直观对比
营收规模更大
DOCU
是对方的1.0倍
$807.0M
营收增速更快
DOCU
高出4.4%
4.0%
净利率更高
DOCU
高出7.8%
2.5%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $818.4M | $807.0M |
| 净利润 | $83.7M | $20.0M |
| 毛利率 | 79.2% | — |
| 营业利润率 | 10.4% | 0.0% |
| 净利率 | 10.2% | 2.5% |
| 营收同比 | 8.4% | 4.0% |
| 净利润同比 | 34.1% | — |
| 每股收益（稀释后） | $0.40 | $0.28 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收DOCUSBGI
| Q1 26 | — | $807.0M | ||
| Q4 25 | $818.4M | $836.0M | ||
| Q3 25 | $800.6M | $773.0M | ||
| Q2 25 | $763.7M | $784.0M | ||
| Q1 25 | — | $776.0M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $917.0M | ||
| Q2 24 | — | $829.0M |
净利润DOCUSBGI
| Q1 26 | — | $20.0M | ||
| Q4 25 | $83.7M | $109.0M | ||
| Q3 25 | $63.0M | $-1.0M | ||
| Q2 25 | $72.1M | $-64.0M | ||
| Q1 25 | — | $-156.0M | ||
| Q4 24 | — | $176.0M | ||
| Q3 24 | — | $94.0M | ||
| Q2 24 | — | $17.0M |
毛利率DOCUSBGI
| Q1 26 | — | — | ||
| Q4 25 | 79.2% | — | ||
| Q3 25 | 79.3% | — | ||
| Q2 25 | 79.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率DOCUSBGI
| Q1 26 | — | 0.0% | ||
| Q4 25 | 10.4% | 9.6% | ||
| Q3 25 | 8.1% | 7.5% | ||
| Q2 25 | 7.9% | 2.7% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | 26.5% | ||
| Q3 24 | — | 19.5% | ||
| Q2 24 | — | 7.7% |
净利率DOCUSBGI
| Q1 26 | — | 2.5% | ||
| Q4 25 | 10.2% | 13.0% | ||
| Q3 25 | 7.9% | -0.1% | ||
| Q2 25 | 9.4% | -8.2% | ||
| Q1 25 | — | -20.1% | ||
| Q4 24 | — | 17.5% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 2.1% |
每股收益（稀释后）DOCUSBGI
| Q1 26 | — | $0.28 | ||
| Q4 25 | $0.40 | $1.62 | ||
| Q3 25 | $0.30 | $-0.02 | ||
| Q2 25 | $0.34 | $-0.91 | ||
| Q1 25 | — | $-2.30 | ||
| Q4 24 | — | $2.64 | ||
| Q3 24 | — | $1.43 | ||
| Q2 24 | — | $0.27 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $583.3M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.0B | — |
| 总资产 | $4.0B | — |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DOCUSBGI
| Q1 26 | — | — | ||
| Q4 25 | $583.3M | $866.0M | ||
| Q3 25 | $600.0M | $526.0M | ||
| Q2 25 | $657.4M | $616.0M | ||
| Q1 25 | — | $631.0M | ||
| Q4 24 | — | $697.0M | ||
| Q3 24 | — | $536.0M | ||
| Q2 24 | — | $378.0M |
总债务DOCUSBGI
| Q1 26 | — | — | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | — | $4.1B | ||
| Q2 25 | — | $4.1B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.1B |
股东权益DOCUSBGI
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $443.0M | ||
| Q3 25 | $2.0B | $347.0M | ||
| Q2 25 | $2.0B | $361.0M | ||
| Q1 25 | — | $436.0M | ||
| Q4 24 | — | $583.0M | ||
| Q3 24 | — | $415.0M | ||
| Q2 24 | — | $340.0M |
总资产DOCUSBGI
| Q1 26 | — | — | ||
| Q4 25 | $4.0B | $5.9B | ||
| Q3 25 | $3.9B | $5.6B | ||
| Q2 25 | $3.9B | $5.7B | ||
| Q1 25 | — | $5.8B | ||
| Q4 24 | — | $5.9B | ||
| Q3 24 | — | $5.8B | ||
| Q2 24 | — | $5.7B |
负债/权益比DOCUSBGI
| Q1 26 | — | — | ||
| Q4 25 | — | 9.84× | ||
| Q3 25 | — | 11.75× | ||
| Q2 25 | — | 11.30× | ||
| Q1 25 | — | 9.56× | ||
| Q4 24 | — | 7.02× | ||
| Q3 24 | — | 9.86× | ||
| Q2 24 | — | 12.08× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $290.3M | — |
| 自由现金流经营现金流 - 资本支出 | $262.9M | — |
| 自由现金流率自由现金流/营收 | 32.1% | — |
| 资本支出强度资本支出/营收 | 3.3% | 1.7% |
| 现金转化率经营现金流/净利润 | 3.47× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流DOCUSBGI
| Q1 26 | — | — | ||
| Q4 25 | $290.3M | $98.0M | ||
| Q3 25 | $246.1M | $-36.0M | ||
| Q2 25 | $251.4M | $122.0M | ||
| Q1 25 | — | $5.0M | ||
| Q4 24 | — | $198.0M | ||
| Q3 24 | — | $210.0M | ||
| Q2 24 | — | $-306.0M |
自由现金流DOCUSBGI
| Q1 26 | — | — | ||
| Q4 25 | $262.9M | $79.0M | ||
| Q3 25 | $217.6M | $-58.0M | ||
| Q2 25 | $227.8M | $105.0M | ||
| Q1 25 | — | $-11.0M | ||
| Q4 24 | — | $175.0M | ||
| Q3 24 | — | $193.0M | ||
| Q2 24 | — | $-329.0M |
自由现金流率DOCUSBGI
| Q1 26 | — | — | ||
| Q4 25 | 32.1% | 9.4% | ||
| Q3 25 | 27.2% | -7.5% | ||
| Q2 25 | 29.8% | 13.4% | ||
| Q1 25 | — | -1.4% | ||
| Q4 24 | — | 17.4% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | -39.7% |
资本支出强度DOCUSBGI
| Q1 26 | — | 1.7% | ||
| Q4 25 | 3.3% | 2.3% | ||
| Q3 25 | 3.6% | 2.8% | ||
| Q2 25 | 3.1% | 2.2% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 2.8% |
现金转化率DOCUSBGI
| Q1 26 | — | — | ||
| Q4 25 | 3.47× | 0.90× | ||
| Q3 25 | 3.91× | — | ||
| Q2 25 | 3.49× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.13× | ||
| Q3 24 | — | 2.23× | ||
| Q2 24 | — | -18.00× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
DOCU
| Subscription And Circulation | $801.0M | 98% |
| Professional Services And Other | $17.4M | 2% |
SBGI
| Media revenue | $701.0M | 87% |
| Other | $82.0M | 10% |
| Political advertising revenue | $18.0M | 2% |
| Non-media revenue | $6.0M | 1% |
